Select the one term that best fits each definition
-A form prepared by the customer showing the price deduction taken by the customer for a return or an allowance.
A) board of directors
B) credit memorandum
C) debit memorandum
D) declaring a dividend
E) dividends
F) general journal
G) purchases allowance
H) purchases return
I) retained earnings
J) sales allowance
K) sales return

Question

Quizplus · Accepted Answer

A debit memorandum is a document issued by a buyer to a seller, indicating a return or allowance on previously purchased goods, and requesting a price deduction.

Select the One Term That Best Fits Each Definition